6 Mar 2008
Reuters
TAIPEI/SINGAPORE -- Morgan Stanley will pay up to US$300 million for the right to buy as much as 15 percent of Taiwan's E.Sun Financial, positioning itself to take a stake held by Singapore's Temasek, E.Sun said.
Morgan Stanley Private Equity Asia will invest some or all of the US$300 million in bonds with an option to convert them to E.Sun shares at a later date. Terms of the conversion will be decided soon at an E.Sun board meeting, said E.Sun deputy president Duh Wu-lin.
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